MILAN, Nov 9 (Reuters) - Italy’s biggest bank, UniCredit , expects an erosion of its core capital ratio of up to 82 basis points between the fourth quarter and January 2018, partly due to regulatory changes.

Speaking on a media call, CEO Jean Pierre Mustier confirmed all of the bank’s targets to 2019, including a core capital ratio above 12.5 percent. At the end of September, the bank’s best-quality capital stood at 13.81 percent of assets.

UniCredit said in presentation slides that “model changes” and pro-cyclicality would take 30 to 40 basis points off its core capital in the fourth quarter, with another 38 to 42 basis-point hit coming from a new international accounting rule, IFRS9, which takes effect in January.

Mustier confirmed that the bank would pay out 20 percent of 2017 adjusted net profit in dividend. (Reporting by Valentina Za; Editing by Mark Bendeich)